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Volkswagen is reviewing the future of its high-performance brands Lamborghini, Bugatti and Ducati as part of broader quest for more economies of scale as it shifts to mass producing electric cars, senior executives told Reuters. Volkswagen's management board and directors will look at the carmaker's strategy at a meeting in November and are working on a new "to do list" as the company tries to more than double its value to 200 billion euros (182.7 billion pounds), one executive said
Environmental group Earthsight said on Wednesday it has linked some of Europe's largest carmakers to the deforestation of the Chaco, a dry forest region of Paraguay home to jaguars and one of the last uncontacted indigenous groups in the world. The group said in a report that livestock companies have illegally logged lands of the Ayoreo Totobiegosode indigenous ethnic group, some of whose members live in voluntary isolation. The livestock skin is used in leather upholstery of luxury vehicles s
Former Nissan Motor Co. Chairman Carlos Ghosn made a new public appearance in Lebanon Tuesday during which he launched an initiative with a local university to help the country that is undergoing a severe economic and financial crisis. It is Ghosn’s second appearance in public since he was smuggled from Japan in late December to his ancestral Lebanon. Ghosn declined to elaborate about the details of his arrival in Lebanon, saying it happened in “dramatic circumstances” and also refused to answ
Britain's Callum Ilott will take part in the same session with the Ferrari-powered Haas team while Russian Robert Shwartzman will get his chance on the final Friday of the season in Abu Dhabi with Haas or Alfa. Schumacher, son of Ferrari great and seven-times world champion Michael, is leading the Formula Two standings ahead of the Eifel Grand Prix weekend at the German circuit.
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General Motors Co and Nikola Corp have not finalized their deal to jointly build electric pickup trucks and hydrogen fuel cell tractor-trailers, one day ahead of the date targeted, and are continuing discussions, GM said on Tuesday. "Our transaction with Nikola has not closed," GM spokeswoman Juli Huston-Rough said in a statement. "We are continuing our discussions with Nikola and will provide further updates when appropriate or required."
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Ford Motor , which operates two auto plants in Germany, has applied for 500 million euros ($582 million) of German loan guarantees aimed at cushioning the impact of the COVID-19 pandemic, business daily Handelsblatt reported on Monday. While Germany has given coronavirus-related aid to companies such as auto parts supplier Leoni , Ford would be the first major carmaker in the country to receive such help from the government. The auto sector, one of the key pillars of Germany's
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